Fitch Revises Outlook on Bulgarian Development Bank to Positive

The international rating agency FitchRatings has confirmed the Bulgarian Development Bank’s (BDB) long-term Issuer Default Rating (IDR) at ‘BBB+’ and revised the outlook to positive from stable. Fitch has also affirmed the bank’s Short-Term IDR at ‘F1’.

The rating assessment reflects BDB’s sound financial position, its role as a policy bank in implementing government policies, and the high likelihood of extraordinary support from the Bulgarian sovereign, should it be required. Fitch also notes that a significant proportion of BDB’s funding is provided by public-sector entities and international development finance institutions.

BDB’s long-term IDR and rating outlook are aligned with Bulgaria’s sovereign rating and outlook, following Fitch’s revision of the outlook on Bulgaria’s sovereign long-term IDR to positive from stable on 25 September 2026.